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Pacifico Minerals (ASX:PMY) Chalks Out Another Victory with the Completion of Phase IV Drilling at Sorby Hills

Summary

  • Pacifico Minerals has completed Phase IV Drilling Program at Sorby Hills Project.
  • The Phase IV program was designed on the back of the positive Pre-Feasibility Study (PFS) results
  • PFS outcomes have confirmed Sorby Hills as a large near-surface deposit, consisting of extensive and high-grade lead and silver resources.
  • Phase IV drilling program will primarily progress the Company’s 75% owned Sorby Hills Project towards Definitive Feasibility Study (DFS) status.

Australian battery commodity explorer, Pacifico Minerals Limited (ASX: PMY) is all geared up to set sail for another exciting exploration endeavours. The Company has announced the successful completion of Phase IV Drilling Program at Sorby Hills Project. The Lead-Silver-Zinc project is situated in the Kimberley region of the most attractive mining jurisdiction of Western Australia.

Pacifico shares traded at $0.019 on 20 November 2020. The share price has edged up to more than three-folds in the past six months.

Preliminary observations from brown-fields exploration drill holes and the assay results received till date from the phase IV drilling are highly encouraging. Significantly, the project hosts two critical commodities- Lead and Silver, both of which are witnessing tremendous potential as the world’s attention shift towards a green economy.

Notably, the Phase IV program was designed on the back of positive Pre-Feasibility Study (PFS) results, which confirmed Sorby Hills as a large near-surface Pb-Ag-Zn deposit consisting of extensive and high-grade lead and silver resources. Phase IV drilling program will primarily progress the Company’s 75% owned Sorby Hills Project towards Definitive Feasibility Study (DFS) status.

Pacifico apportioned the bulk of drilling meters (3,340m) to these objectives, while the balance of the drilling was targeted at Resource extensions and brownfields exploration (~1,460m).

READ MORE: Pacifico Minerals Sitting on a Sweet Spot with Outstanding Economic Outcomes from Sorby Hills Pre-Feasibility Study

Preliminary Outcomes

Pacifico completed a total of 28 metallurgical drill holes for 2,116m. It was done across Omega Central and South, Norton and the B Deposit. The mineralisation has been intersected from all metallurgical drill holes, broadly in line with the projection by the current resource block model.

The geotechnical drilling consisted of 12 diamond drill holes for 1,224m, with all the holes field assessed by ENTECH Mining Consultants. A majority of the holes were drilled in the Norton Deposit area. The new mineralisation was intersected across several drill holes immediately adjacent to the current open pit designs.

ALSO READ: Pacifico Minerals (ASX: PMY) Walking Tall with Robust Assets and Diversified Potential

Southern Omega Deposit

Into the southern portion of the Omega deposit, drill holes SHDD039, SHDD043 and SHDD046 were drilled. Each hole intersected significant widths of observed mineralisation, lying beyond the current interpreted boundary of the Sorby Hills deposit.

Drill Hole SHDD039- Besides the known mineralisation, a second mineralisation interval was intersected from the drill hole SHDD039 below the current Resource envelope.

Drill Hole SHDD046- A 30m step-out drill hole stationed northwest of the current Resource envelope, intersected several intervals of strong visible mineralisation.

Drill Hole SHDD043- Drilled toward the southeastern limit of the Omega deposit, it intersected two observed mineralisation intervals. Ore body continuity down-dip of the current open pit design has been confirmed by the drill hole, which also indicates a broader mineralisation zone than has earlier been modelled in the area.

The assay results for SHDD039, SHDD043 and SHDD046 are yet to be received.

B Deposit

Drill holes SHDD030, SHDD032 and SHDD034 were drilled both through and outside the current known mineralisation for the B Deposit. The drill holes intersected observed mineralisation of new and significant widths, sitting outside the current open pit design.

Drill hole SHDD032- An upper and a lower zone of mineralisation has been intersection. The lower zone of the observed mineralisation is 12.6m and was unexpected. The lower zone is stationed beyond the current Resource and below the current open pit design.

Drill hole SHDD030- An interval of intermittently visible mineralisation was intersected from 43m downhole SHDD030 over about 20m. If strong assay results confirm the preliminary observations of drill hole SHDD030, it is expected to impact the pit design at B Deposit substantially.

The company is awaiting the assay results from drill holes SHDD030, SHDD032 and SHDD034

ALSO READ: Pacifico Minerals (ASX:PMY) Continues the Legacy of Solid Exploration in September 2020 Quarter

Lens through the Gravity Surveys

Haines Gravity was commissioned by Pacifico for conducting two new gravity surveys along with the Phase IV Drilling Program.

The gravity survey has been completed over the northern half of the Company’s 100% owned Eight Mile Creek. The data received has been submitted for interpretation by a geophysicist. Pacifico expects that it will facilitate a structural interpretation of the Devonian-Carboniferous strata while also expected to provide a first pass exploration concept.

Pacifico indicated that it has all the core samples needed for the completion of DFS metallurgical testwork program. The testwork program is required for the optimisation of the performance and economics of process flowsheet, along with the finalisation of process plant design.

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